A new report from Counterpoint Research suggests that the average selling price (ASP) of smartphones in almost all of the major markets has risen by a considerable amount. The major markets include North America, Latin America, Europe, Middle East and Africa, Asia-Pacific, and China.
The highest increase in ASP has been noted in China, where the average price tag associated with a smartphone is now $310. Meanwhile, North America witnessed an increase of 7% in its year-over-year ASP, which now stands at $471. In fact, North America has the highest ASP right now of any market. On the other hand, Latin America is the only major market where there has actually been a year-over-year decline of 5% in the ASP, with the figure standing at $166 right now.
With global smartphone sales dropping as a result of the COVID-19 pandemic, this rise in ASP might not make sense. However, it must be noted that premium priced smartphones are still selling pretty well, having only suffered a year-over-year decline of 8%. When compared to the 23% decline in the overall global smartphone market, this is a fairly small drop indeed. Premium smartphones have been in high demand since the demand for entertainment, productivity, and communication has obviously skyrocketed during this pandemic.
Apple accounted for the majority of smartphone sales in Q2 with 34% market revenue. Meanwhile, Huawei came in second with 20% of revenue and Samsung right after with 17% of global smartphone revenue for the same quarter. Vivo and Oppo both accounted for 7% and 6% of revenue, respectively.
This is the first time Huawei (including Honor) surpassed Samsung in both shipments and revenue. This is despite the severe impacts that the US ban has had on Huawei in markets outside of China.